Ripple Price Analysis: XRP/USD bulls step up following Thursday’s bloodbath
- XRP/USD bulls pushed the price back inside the 20-day Bollinger Band.
- The William’s %R is trending inside the oversold zone, showing that the asset is currently undervalued.
XRP/USD daily chart
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XRP/USD went up from $0.1881 to $0.1892 in the early hours of Friday and re-entered the 20-day Bollinger Band. This followed a heavily bearish Thursday, wherein the price plummeted from $0.203 and dropped below the 20-day Bollinger Band. The MACD shows increasing bearish momentum, while William’s %R is trending inside the oversold zone, indicating that the asset is currently undervalued.
Support and Resistance
XRP/USD bulls face strong resistance levels at $0.1926, $0.1959, SMA 20 and SMA 50. On the downside, there are healthy support levels at $0.1817 and $0.1765.
Key levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
